Beeks announces $2 million Proximity Cloud win
Beeks Financial Cloud Group Plc (LON:BKS), a cloud computing and connectivity provider for financial markets, announces the signing of another multi-year contract for its Proximity Cloud offering. The five year contract, worth an initial $2 million, is for a North American bank, secured via a partner.
The value of this contract means that the Board anticipates revenue for the full year to be slightly ahead of the recently upwardly revised expectations, with the additional profits to be further invested into the offering in order to support the strong pipeline of opportunities ahead.
Gordon McArthur, CEO of Beeks Financial Cloud commented:
“I am delighted to have signed another Proximity Cloud contract, underpinning the Board’s strong belief in the value of the offering. We are attracting some of the world’s leading financial services organisations and I am confident the investment we are making in additional features to Proximity Cloud, will see our pipeline continue to increase.”
Earlier in February, Beeks announced the signing of a £2.5 million contract extension over three years with an existing Tier 1 customer. The contract is for the provision of private cloud services into an additional geography.
A week before that, Beeks announced a $2.2 million contract for the Group’s Proximity Cloud.
Proximity Cloud is considered by Beeks to be the industry’s first private cloud environment for financial markets, a high-performance, dedicated and client-owned trading environment, fully optimised for low latency trading conditions and built with security and compliance at the forefront. A substantial pipeline continues to build for the offering.